BRZ Bearing Lithium Corp New

Bearing Resources Ltd. ("Bearing", or the "Company") (TSX VENTURE:BRZ) wishes to
announce that effective July 1, 2013, that it has amended the underlying option
payments due on the Flume property, White Gold District, Yukon, due to
Freeport-McMoRan of Canada Limited. Under the original agreement a final payment
of $150,000 was due in June 2013. This final payment has been replaced by
payments of $170,000 over a four year period (2013: $25,000 paid; 2014: $35,000:
2015: $60,000; 2016: $50,000). 


Bearing had previously optioned the Flume property to Ryan Gold Corp. ("Ryan
Gold") who returned the property after incurring over $1.5 million in
exploration expenditures (Refer news release dated November 7, 2012) and making
payments of $175,000 to Bearing. The property is in good standing until 2023.
Work by Ryan Gold has outlined a 10 km long linear gold/arsenic soil anomaly
hosted by meta-sediments. A drill program in 2012, comprised of 9 holes,
returned anomalous gold values within broad shear zones with the best result
being 2 metres of 5.76 gpt gold in hole FL12-06. 


The Company's properties in the Yukon are all in good standing for a number of
years and the Company plans to seek joint venture partners for them. 


Corporate Update:

The Company continues to review all its activities and expenses, an exercise
that began in October 2012, and is streamlining operating costs and obligations
while ensuring that the Company has the right organization structure moving
forward. Effective July 1, 2013, due to the aforementioned review of activities
and expenses, the Company has released Mr Tupper from his obligations as Vice
President of Exploration and Mr Cameron, President and CEO will assume those
responsibilities. The Company has also released its Mexican exploration team and
has curtailed active exploration in Mexico. 


In other cost cutting initiatives, Mr Chater has stepped down as Executive
Chairman of the Company but remains as Chairman of the Company in a non-paid
position. In addition, the Company has terminated a business development and
corporate relations consulting arrangement. 


As of June 30, 2013, the Company has approximately $1.2 million in cash and cash
equivalents, of which $0.2 million are flow-through funds which will be spent on
exploration in British Columbia in 2013 at its 100% owned October Dome property.



Robert Cameron P.Geo., President and CEO of Bearing, is a qualified person
within the context of National Instrument 43-101, and has read and takes
responsibility for this news release.


BEARING RESOURCES LTD.

Robert Cameron, President & CEO

For further information please visit Bearing's website at www.bearingresources.ca. 

This news release includes certain "forward-looking statements" under applicable
Canadian securities legislation. Such forward-looking statements or information,
including but not limited to, those with respect to potential future and
exploration potential of anomalies and properties involve known and unknown
risks, uncertainties, and other factors which may cause the actual results,
performance or achievements of Bearing to be materially different from any
future results, performance or achievements expressed or implied by such
forward-looking statements or information. Such factors include, among others,
the actual prices of commodities, the factual results of current exploration,
development and mining activities, changes in project parameters as plans
continue to be evaluated, as well as those factors disclosed in documents filed
from time to time with the securities regulators in the applicable Provinces of
British Columbia and Alberta. Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Bearing Resources Ltd.
Robert Cameron
(604) 682-5546
rcameronr@bearingresources.ca
www.bearingresources.ca

Bearing Lithium (TSXV:BRZ)
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Bearing Lithium (TSXV:BRZ)
Gráfica de Acción Histórica
De Ene 2024 a Ene 2025